01 October 2013

'Investors' Shun Safe Havens To Bid Up Risk Ahead of US Debt Ceiling and G20 Banking Meeting

Must have been a mass shunning on cue.

I see where Obama has solicited the Bankers like Blankfein and Dimon to help to persuade the Congress.  He is meeting with them today.

It appears they have already had their persuasive hands on the markets this morning.

The government shut down includes market regulators according to CFTC commissioner Bart Chilton.  "No regulators looking at markets due to government shutdown."

Economist Brad DeLong says Obama's only alternative is raw fiat money creation, aka the trillion dollar coin.  Bring it, Brad.  lol.

Aptly enough, there will be a G20 meeting in Washington DC on October 10-11 which will include all the finance ministers and Central Bank governors.  One can only wonder might be said, especially after Italy's bold statements to the LBMA the other day. 

Gold futures tumble as investors shun safe havens
Oct. 1, 2013, 8:50 a.m. EDT

NEW YORK (MarketWatch) -- Gold futures tumbled Tuesday morning, with the traditional safe haven failing to find support as investors shrugged off a long-anticipated shutdown of the U.S. federal government to bid up equities and other assets perceived as risky..."